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SG-2.4.7

The Bahraini Islamic bank licenseeG should ensure that members of the SSB demonstrate the competence and ability to understand the technical requirements of the business, the inherent risks therein, and the management processes required to conduct its operations effectively, with due regard to the interests of all stakeholders. In assessing the competence and capability of a person, all relevant factors should be considered, including, but not limited to whether the person:

(a) Has demonstrated, through qualifications and experience, the capacity to successfully undertake the responsibilities of the position;
(b) Is physically and mentally fit to perform his duties;
(c) Has sound knowledge of the business; and
(d) Can allocate sufficient time and attention to the licensee taking into account his existing Shari'a board memberships with other organizations.
August 2017
 Versions
(1 Version)
 
Aug 1 2017 onwards
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